A new report from Prohibition Partners forecasts the UK legal cannabis market to reach £2.31bn by 2024.
Prohibition Partners has produced The UK Cannabis Report which examines the future challenges and opportunities for the UK cannabis sector, and puts forth the billion pound forecast for the future of the market.
Poised for Growth
While the medical cannabis market has grown very slowly over the past year, Prohibition Partners anticipate a significant increase in accessibility for patients over the course of 2020, leading to a period of exponential growth over the coming few years.
By 2024, the UK medical cannabis market is predicted to be worth nearly £1bn (US$1.3bn), servicing nearly 340,000 active patients.
The total UK legal cannabis market is expected to balloon to £2.31bn in 2024. Working from an estimated recreational legalisation date of mid-2021, the value of the legal recreational cannabis market by the year 2024 will be approximately £1.31bn, with nearly three-quarters…